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Sep 20, 2021
09/21
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they are facing, remember, a fiscal cliff in just a few weeks. they've got to fund the government or it shuts down and further debate about that potential $3.5 trillion spending package. over the weekend, powerful west virginia senator joe manchin suggesting that debate and the bill itself needs to be pushed back until next year that could be playing into some of the weakness in u.s. equity markets. you have the fed digkicking off two-day policy meeting tomorrow, not a lot expected there you have global supply chains getting worse. we should get more incite when fed ex, costco, and nike release their earnings this week and potential contagion from a chinese housing and/or debt crisis due to what is happening with evergrande group. here with us to talk about it is robert i wish we had better markets to show you and our viewers to start us off this is the most we've been down in futures so far this year. i feel like we can pin it on evergrande the markets have been a little bit weak as well, we have a fiscal cliff it's kind of a little bit of every
they are facing, remember, a fiscal cliff in just a few weeks. they've got to fund the government or it shuts down and further debate about that potential $3.5 trillion spending package. over the weekend, powerful west virginia senator joe manchin suggesting that debate and the bill itself needs to be pushed back until next year that could be playing into some of the weakness in u.s. equity markets. you have the fed digkicking off two-day policy meeting tomorrow, not a lot expected there you...
SFGTV: San Francisco Government Television
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Jun 9, 2021
06/21
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then the $295 million for future fiscal cliff. thanks for responding to chair haney's questions about that. but the total amount is $395 million. i thought it was higher -- i thought it was closer to $500 million right now. >> yes. the budget proposes to use about $114 million of the covid reserve to pay for covid costs in this budget. so both the health response and some of the kind of critical community-focused response efforts that are included in this budget. and so that 395 is the balance, after we use about $114 million in the budget. >> supervisor mar: got it. and then does the budget -- does it show what that $114 million or so, that you mentioned use of the covid reserve, is going to go for? >> yes. i can provide you with a table that shows how that breaks down. and build up to that $114 million. like i said, it's mostly about half of it is for our kind of basic covid operations. and then the other half are for some of the other critical response programs that we stood up, like enhanced feeding, small business and workfor
then the $295 million for future fiscal cliff. thanks for responding to chair haney's questions about that. but the total amount is $395 million. i thought it was higher -- i thought it was closer to $500 million right now. >> yes. the budget proposes to use about $114 million of the covid reserve to pay for covid costs in this budget. so both the health response and some of the kind of critical community-focused response efforts that are included in this budget. and so that 395 is the...
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Sep 9, 2021
09/21
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dan veru at capital management dan, thank you we have the fiscal cliff coming september 30th and the negotiations over the $3.5 trillion package which is likely to be wound down, but include tax hikes. are the markets under estimatin some of the risks here >> i think so in the short run in the longer run, they continue to remain bullish because where else will you put your money stocks remain the best place to be we talked about small-cap stocks, and small cap will fare well through the period. we have to go through probably a month or some of the debate and a lot of changes to the bill and some of those things are not market friendly. the market has not taken it all in because the debate is just about to start there will be wild proposals ou there. the bill will be probably 150,000 pages long there will be a lot of stuff in there that is very difficult to understand what it is and it will have some effect on various sectors of the market. it could also effect the market in general particularly on the tax side which to me is most concerning it really takes away from the earnings pict
dan veru at capital management dan, thank you we have the fiscal cliff coming september 30th and the negotiations over the $3.5 trillion package which is likely to be wound down, but include tax hikes. are the markets under estimatin some of the risks here >> i think so in the short run in the longer run, they continue to remain bullish because where else will you put your money stocks remain the best place to be we talked about small-cap stocks, and small cap will fare well through the...
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Sep 27, 2021
09/21
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secondly, this bill would prevent the us from going over the fiscal cliff in mid october. some economic have said that would be disastrous, it could throw the u. s. economy into recession, and it would have echoes across the global markets. now, both parties here in capitol hill say they want to avoid all of those scenarios. but the problem is they cannot agree on how to do so. democrats want to tackle both of those problems together. and that is a bill facing senators now. but republicans say, while they agree that they wants to keep the government open past this thursday, they want no part in raising the debt ceiling. that is why in a few moments time when the senate takes this preliminary vote, we do expect this bill to fail. a default means quite simply, the government cannot pay its bills. it means that suddenly the government is presented with unimaginable options. to they tell seniors they won't get their social security checks or veterans that they won't see their benefits or tell our military they won't be getting paid. we will not provide republican vote for rais
secondly, this bill would prevent the us from going over the fiscal cliff in mid october. some economic have said that would be disastrous, it could throw the u. s. economy into recession, and it would have echoes across the global markets. now, both parties here in capitol hill say they want to avoid all of those scenarios. but the problem is they cannot agree on how to do so. democrats want to tackle both of those problems together. and that is a bill facing senators now. but republicans say,...
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Sep 27, 2021
09/21
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and eventually to avert going, going over the fiscal cliff. but democrats are also bogged down in their own internal conflicts, namely over to spending bills, the infrastructure bill and social programs bill from the, by the ministration that together total more than 4 trillion dollars, but would deliver on the campaign, promises that bide and many democrats had it campaigned on that includes expanding health care and education, as well as tackling climate change. those bills are able to advance without republican support. however, there are some moderate democrats who are bulking at the price tag and at the tax increases that these bills would require. president biden is of projecting optimism . he says there is still time to go sheet a solution as well as to avert a government shut down and to avoid going over the fiscal cliff. but that is a lot happening. very consequentially, all at the same time here on capitol hill in this game of brinkley ships that both parties are engaged and is making many people very nervous. barbara, how does your
and eventually to avert going, going over the fiscal cliff. but democrats are also bogged down in their own internal conflicts, namely over to spending bills, the infrastructure bill and social programs bill from the, by the ministration that together total more than 4 trillion dollars, but would deliver on the campaign, promises that bide and many democrats had it campaigned on that includes expanding health care and education, as well as tackling climate change. those bills are able to...
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Feb 1, 2021
02/21
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it was biden who cut the deal to back the country away from the fiscal cliff. his main concession was to allow many of the bush era tax cuts to continue almost indefinitely. his main victory was to allow other spending increases to go on without across-the-board sequestration cuts. the left was angry then. a deal of course, the fundamental definition of a deal, politicians will tell you, is when both sides are equivalently disappointed and both sides are equivalently pleased. in the main, that was true, but on biden's left flank several times he has gotten in trouble. host: david hawkings, our guest. as we talk about the week ahead in washington, we invite viewers to join the conversation. republicans, (202) 748-8001. democrats, (202) 748-8000. independents, (202) 748-8002. david hawkings will be with us this morning. a deal is one way to move this. 10 republican senators say they want to make a deal and they come to some sort of negotiation. another way to move the package is through budget reconciliation. there are democrats already talking about moving the $
it was biden who cut the deal to back the country away from the fiscal cliff. his main concession was to allow many of the bush era tax cuts to continue almost indefinitely. his main victory was to allow other spending increases to go on without across-the-board sequestration cuts. the left was angry then. a deal of course, the fundamental definition of a deal, politicians will tell you, is when both sides are equivalently disappointed and both sides are equivalently pleased. in the main, that...
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Oct 8, 2021
10/21
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. >> reporter: this as a fiscal cliff in december voting on party lines, the move wouldn't have happened, mitch mcconnell, afterwords chuck schumer viciously attacking him. there is no sound but trust me, he attacked him but if you look, this is the video. if you look at senator manchin behind schumer he was visibly upset at what schumer was saying, his hands, face and hands, and they pass it and expected to be of third and, and aoc, alexandria ocasio cortez tweeting an attack at manchin, with that position. or have child care, on all 3, that makes you entitled to lazy but fossil fuel money keeping drug prices high, and nonnegotiable. this is interesting. the tease on tuesday, the house taking up a measure. it would happen quickly, and dealing with a little bit of momentum. only takes 3 votes. jillian: someone needs to tell teleprompter does it is not that we could get that. can't call it quits. >> nothing a teleprompter going into another script from yesterday. todd: anytime aoc speaks i want to do the thing manchin did. jillian: you want for everyone to hear what was said. despite imme
. >> reporter: this as a fiscal cliff in december voting on party lines, the move wouldn't have happened, mitch mcconnell, afterwords chuck schumer viciously attacking him. there is no sound but trust me, he attacked him but if you look, this is the video. if you look at senator manchin behind schumer he was visibly upset at what schumer was saying, his hands, face and hands, and they pass it and expected to be of third and, and aoc, alexandria ocasio cortez tweeting an attack at manchin,...
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Sep 21, 2021
09/21
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and what happens when we step off the fiscal cliff. this is bloomberg. ♪ matt: this is bloomberg markets. i'm matt miller. the fomc kicked up its two-day meeting today, and joining us for a preview is scott minerd, guggenheim partners chief investment officer. there is so much going on in the markets, especially in credit. everyone freaks out about evergrande. i cannot tell if it is sensationalist because it is an exciting story or it is tied to the bigger, and prosperity issues we've been seeing in china, or if it is really a big problem for global credit markets, if we just cannot see how much it matters right now, how deep it is, counterparty risk. what is your thinking on evergrande? scott: i saw a story on bloomberg the other day that i thought sums it up well. is this a great financial crisis or long-term capital? i think it is long-term capital. there is a problem in asia. china is a much bigger part of the global economy than it was 15 years ago. the repercussions to their property market are huge. a lot of people here are no
and what happens when we step off the fiscal cliff. this is bloomberg. ♪ matt: this is bloomberg markets. i'm matt miller. the fomc kicked up its two-day meeting today, and joining us for a preview is scott minerd, guggenheim partners chief investment officer. there is so much going on in the markets, especially in credit. everyone freaks out about evergrande. i cannot tell if it is sensationalist because it is an exciting story or it is tied to the bigger, and prosperity issues we've been...
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Mar 25, 2021
03/21
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BLOOMBERG
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annemarie: you mentioned this fiscal cliff. we see a pause on fiscal spending in china. with that pause in fiscal spending we see it hit chinese equities. how do you prepare for the same to potentially happen in the united states? >> i think the point illustrate spectacularly the sharp contrast between u.s. policymaking as compared with chinese policymaking, because you see medium-term, long-term planning from chinese leadership, you see a concern not to let imbalances build up in their economy, in particular in the private sector , and it is very ironic that today china is the only major economy in the world where policymakers are ultra-orthodox, a macroeconomic makes with a slightly more prudent fiscal policy as you alluded to but potentially real and nominal interest rates, so it is a sharp contrast. we are very positive on chinese assets we think the rise of china capital markets will be one of the key trends, and accordingly both chinese and renminbi bonds should have a strategic place in everyone's portfolio. annemarie: a strategic place for chartist and. yves bonz
annemarie: you mentioned this fiscal cliff. we see a pause on fiscal spending in china. with that pause in fiscal spending we see it hit chinese equities. how do you prepare for the same to potentially happen in the united states? >> i think the point illustrate spectacularly the sharp contrast between u.s. policymaking as compared with chinese policymaking, because you see medium-term, long-term planning from chinese leadership, you see a concern not to let imbalances build up in their...
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Sep 28, 2021
09/21
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agreement on the fiscal cliff in direct opposition to what the speaker wanted to get. as a result, they ended up with a much worse deal, and eventually the collapse. so this is a very big test of the progressive here. i believe an infrastructure bill will ultimately pass this week. tom: are they so intransigent -- i can't even say it correctly, but are they whippable? dan: i think they are, if the president of the united states picks of the phone, even goes to their lunch this week and says i need your vote. the president is in quicksand here. he's got higher inflation. he's got covid issues where he is underwater with the voters. he has the afghanistan foreign policy. he needs a to mr. policy wh -- a domestic policy win. the momentum will get us to a larger spending package down the road, and second, the highway trust fund will completely expire on october 1. we don't want those jobs to go away, so i need your vote. but it is not a one-way street. he's going to have to go to senator manchin and sinema and say i need something bigger on the $3.5 trillion spending so i
agreement on the fiscal cliff in direct opposition to what the speaker wanted to get. as a result, they ended up with a much worse deal, and eventually the collapse. so this is a very big test of the progressive here. i believe an infrastructure bill will ultimately pass this week. tom: are they so intransigent -- i can't even say it correctly, but are they whippable? dan: i think they are, if the president of the united states picks of the phone, even goes to their lunch this week and says i...
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Oct 21, 2021
10/21
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from my perspective, anyone who is looking for this massive fiscal cliff, if you are just looking at the change in the deficit from one year to the next, i think that is the wrong analysis in current circumstances. there is income replacement that kept the consumer on track. excess saving could buffer to some degree any fall in income. the fall off in fiscal stimulus right now is not going to lead to a cliff because it didn't lead to anywhere near as much as a -- near as much of a boost as we thought. that is why we saw the saving rate go up, because consumers are moving through it. if they smooth through with this year, it is going to smooth through it next year when the impetus goes away. tom: do you model in a fiscal drag, either with the present legislation in america, for germany and continental europe, and particularly for the u.k.? seth: i think when we are looking at europe in particular, there is still a question about what is going to happen with the coalition there, how much easing there is going to be, and for the rest of onto and into europe, there is the recovery fund.
from my perspective, anyone who is looking for this massive fiscal cliff, if you are just looking at the change in the deficit from one year to the next, i think that is the wrong analysis in current circumstances. there is income replacement that kept the consumer on track. excess saving could buffer to some degree any fall in income. the fall off in fiscal stimulus right now is not going to lead to a cliff because it didn't lead to anywhere near as much as a -- near as much of a boost as we...
SFGTV: San Francisco Government Television
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7.0
Nov 23, 2021
11/21
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i want to say something about the reserve that this is drawing from the fiscal cliff reserve. it provides -- intended to provide funding for potential short falls in the general fund after the exhaustion of federal and state stimulus funding starting in the next fiscal year. we don't know whether the shortfalls will occur or how large the shortfalls will be, but this ordinance is consistent with prior policy actions taken by the board of supervisors, but because the appropriation couldn't require future budget adjustments we consider approval to be a policy matter fort board of supervisors. i'm happy to answer any questions. >> chair haney: thank you. i have some questions, but, supervisor preston, would you prefer we go to public comment now, and then we can jump into our questions about the program itself? >> commissioner preston: that sounds great. >> chair haney: all right. why don't we open this up for public comment. >> clerk: thank you, mr. chair. operations is checking to see if there are callers in the queue. members of the public who wish to provide comment on this i
i want to say something about the reserve that this is drawing from the fiscal cliff reserve. it provides -- intended to provide funding for potential short falls in the general fund after the exhaustion of federal and state stimulus funding starting in the next fiscal year. we don't know whether the shortfalls will occur or how large the shortfalls will be, but this ordinance is consistent with prior policy actions taken by the board of supervisors, but because the appropriation couldn't...
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6.0
Mar 19, 2021
03/21
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we had a fiscal cliff in 2023? do we use of our enthusiasm and then peter out? it has well then pointed out we will not trade on that in the next few weeks. if you are a long-term asset allocator, that is relevant. jonathan: it is about the future and beyond 2021, 2022, 2023. we are talking about robert's point, no one is talking about it. what does trend growth look like? kathy: it is not just trend inflation. there has been such a big shift in the focus of fiscal policy and the focus of monetary policy that we are in a place we haven't been in years in terms of coordination and the focus of those policies. things going predominantly into lower households and places like state and local governments to get employment back. the commitment from this administration seems to be pushing forward in that regard rather than tax cuts. that combined with the fed willing to push the envelope on inflation could mean we have a dynamic we haven't seen in quite some time. that is what makes me think we will look at longer-term fields continuing to move up in the reversion down
we had a fiscal cliff in 2023? do we use of our enthusiasm and then peter out? it has well then pointed out we will not trade on that in the next few weeks. if you are a long-term asset allocator, that is relevant. jonathan: it is about the future and beyond 2021, 2022, 2023. we are talking about robert's point, no one is talking about it. what does trend growth look like? kathy: it is not just trend inflation. there has been such a big shift in the focus of fiscal policy and the focus of...
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there's fiscal cliff fiscal and monetary lives when the economy starts to toboggan down that's like to be clear i misspoke u.n. fact or taking a position very much different that than standard i can mail or well you know one little question kid he's got a huge fund this that impair his ability to deliver numbers if the size become a mitigating factor when you're managing money like that and i take it that one of the attributes you've got over there pent up portfolio is that you're just sticking to that maximum bang for the park where you know you can squeeze out alpha or return without having to worry about moving markets which of course stand corrected miller has that problem because he's he's so huge you know he's also long gold. any thoughts there 2 thoughts is that you know the more money you manage managed you know hundreds of billions of dollars you obviously don't work it's when you make changes so i'm floored now it's over $100.00 i don't merit a 100000000000 so that's one thing number 2 i sold my gold. all of it a few weeks ago and i sold the miners about 6 months ago and the
there's fiscal cliff fiscal and monetary lives when the economy starts to toboggan down that's like to be clear i misspoke u.n. fact or taking a position very much different that than standard i can mail or well you know one little question kid he's got a huge fund this that impair his ability to deliver numbers if the size become a mitigating factor when you're managing money like that and i take it that one of the attributes you've got over there pent up portfolio is that you're just sticking...
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and then you're going to have a massive fiscal and monetary cliff later this year into 22 and i think that's going to cause enough 2nd problem market in the bottom south the answer is in your view the bank of america is basically wrong because they're calling for the end of a 40 year ball market in the beginning of a secular bear market and the bond markets a year and says a penny more of the same they'll be a crisis in the markets which will be responded to by another massive purchase of bonds by the central bank so imagine 6 trillion here on here printed in the last 12 months and we know that sense 2008 the spend 17 or 18 trillion or more printed to try to keep pace insolvent banks up and running to so how much can they go where as any limit can they go 3040 trillion worth of sculling well you're running into a bit of a problem with the dollar here max you know the dollar it was is a heavily shorted instrument right now it's all one sided trade and like i said if you see 10 year note rise they use the benchmark treasury charts you know as my proxy for long term interest rates if it
and then you're going to have a massive fiscal and monetary cliff later this year into 22 and i think that's going to cause enough 2nd problem market in the bottom south the answer is in your view the bank of america is basically wrong because they're calling for the end of a 40 year ball market in the beginning of a secular bear market and the bond markets a year and says a penny more of the same they'll be a crisis in the markets which will be responded to by another massive purchase of bonds...
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9.0
Sep 28, 2021
09/21
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cliff. this game of brinksmanship that both parties are engaged in is making many people very nervous. anchor: the latest from capitol hill. thank you. staying in the u.s., the country has experienced its biggest annual increase in murders. new figures show a sharp increase in homicides during 2020, and some u.s. cities are reporting the highest murder numbers since records began. we have more from chicago. reporter: murders in the west increased by 30% last year, the largest year-over-year increase since the fbi began compiling a report in 1960. lower enforcement officials say there are many reasons for this. partly the economic and social stress of the pandemic, increase in purchases of firearms, possibly a pullback by police. those numbers remain well below the highs of the mid-1990's, but the trend continues for 2021. it is a national trend, not a regional trend. there have been record high number of mergers -- murders in major cities, including milwaukee, wisconsin. in pennsylvania, we
cliff. this game of brinksmanship that both parties are engaged in is making many people very nervous. anchor: the latest from capitol hill. thank you. staying in the u.s., the country has experienced its biggest annual increase in murders. new figures show a sharp increase in homicides during 2020, and some u.s. cities are reporting the highest murder numbers since records began. we have more from chicago. reporter: murders in the west increased by 30% last year, the largest year-over-year...
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8.0
Jul 20, 2021
07/21
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there is a reason that we're about to veer over a fiscal cliff. because the cliff was built in the first place. because there is not a fourth stimulus check coming in the mail to sustain unreasonably rising prices. eventually you will have to give landlords some relief and allow rental, allow rental evictions to push forward. the biggest problem here you might end up having landlords need to compensate for months of loss of unpaid rent by raising rental inflation that will become very problematic for jay powell the cost of housing is a very sticky kind of inflation that does not go away anytime soon. but again, brookings has it right. the u.s. economy is about to go over a fiscal cliff. but you have to understand the governments built it. charles: yesterday, nber time-stamped the recession last year two months, the shortest ever. we know a lot has to do with federal spending. a lot had to do with the federal reserve. you're making the point, i want to go over it again, because the bond yields tell as you different story as well. the federal reserv
there is a reason that we're about to veer over a fiscal cliff. because the cliff was built in the first place. because there is not a fourth stimulus check coming in the mail to sustain unreasonably rising prices. eventually you will have to give landlords some relief and allow rental, allow rental evictions to push forward. the biggest problem here you might end up having landlords need to compensate for months of loss of unpaid rent by raising rental inflation that will become very...
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Sep 21, 2021
09/21
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>> fiscal cliff certainly is part of the whole market story right now and it's creeping up on us every day. >> absolutely. >> see you in a few minutes. thank you very much. >>> let's get back to the markets. we could see a bit of a bounce back today futures are higher across the board, dow futures up about 350. all this as we digest a number of headwinds the suddenly debt crisis in china with real estate developer evergrande you have the fed meeting starting today and the unwinding of its balance sheet the debt ceiling, and the reduced budget support post pandemic as well joining us now to tie all of this together for you is joyce chang, one of america's banks most powerful women in fitnnanc ten years running thanks for coming on is the evergrande debt issue and the interest payment at the end of the week a systemic risk to the chinese or global banking systems. >> it's great to be with you, brian. evergrande is not a systemic risk but it's an industry-wide event and it's not over. i think you're going to continue to see further risk off over the next couple of weeks and there's going
>> fiscal cliff certainly is part of the whole market story right now and it's creeping up on us every day. >> absolutely. >> see you in a few minutes. thank you very much. >>> let's get back to the markets. we could see a bit of a bounce back today futures are higher across the board, dow futures up about 350. all this as we digest a number of headwinds the suddenly debt crisis in china with real estate developer evergrande you have the fed meeting starting today and...
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you have the biggest fiscal and monetary cliffs in the history of the united states occurring in the next 8 months, the 9 months. so why in the world, if you don't know if you don't understand what was the inflation, you're one of these intractable inflation eastern. i'm not saying that the spend isn't going to respond to the next crash with massive amounts of helicopter money and the treasury regardless of the conflagration in d. c. right. now, republicans and democrats will agree on another massive stimulus package, which will be monetized for the fed. but that's ex post crash. so i don't see how this is any different then in the last 10 years, right? they, they threatened a raising rates. markets full in 3 or 5 percent, then they print a lot of money and the, all the central banks around the world are in on it. right? they all work with each other was. so what's the difference now between i don't see any difference really. i mean, that was the difference. there is the same thing over and over again year after year for 10 years. the difference is and it's a subtle difference. maybe
you have the biggest fiscal and monetary cliffs in the history of the united states occurring in the next 8 months, the 9 months. so why in the world, if you don't know if you don't understand what was the inflation, you're one of these intractable inflation eastern. i'm not saying that the spend isn't going to respond to the next crash with massive amounts of helicopter money and the treasury regardless of the conflagration in d. c. right. now, republicans and democrats will agree on another...
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1.0
Aug 2, 2021
08/21
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CNBC
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so, there is actually this sort of fiscal cliff. this will -- infrastructure bill will -- likely mitigate to some extent the impact of that. but for sure this is going to be played out over the course of years, not being front loaded like we've seen with the covid relief there will still be this fiscal cliff we will experience in 2022 as a result from an economic forecasting perspective, our gdp forecast, i take that into consideration. >> what do you make of the era after the bipartisan good feelings moments in washington if they get the bill passed? the democrats are talking about another $3 trillion in spending on a whole host of things, early education, things to improve lifestyles and outcomes in the united states. they're going to have to do that on a strictly party line vote. they're going to look for the 50 vote margin in order to do that in the senate. is that likely, in your view and again, from an investor's perspective, what do you think in terms of stocks you want to play looking at that enormous amount of spending that
so, there is actually this sort of fiscal cliff. this will -- infrastructure bill will -- likely mitigate to some extent the impact of that. but for sure this is going to be played out over the course of years, not being front loaded like we've seen with the covid relief there will still be this fiscal cliff we will experience in 2022 as a result from an economic forecasting perspective, our gdp forecast, i take that into consideration. >> what do you make of the era after the bipartisan...
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Sep 13, 2021
09/21
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FOXNEWSW
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some fiscal cliffs to come and they are talking taxes. we are back with our panel brit hume, bill bennett, harold ford jr. harold, you know this from being there in the house. usually it takes a cliff of some kind or a threat of not going home to get things done. it seems like that's where we are headed. without question. you know, as it relates to this debt ceiling it, always amazed me this is money that we have already spent as a country. we need a different process around how the debt ceiling is raised. but, to the larger point around when joe manchin and mark warner and others are saying about this $3.5 trillion package, i think joe march be has it about right had about how you are thinking about this. what are our priorities? what's going to make america more competitive? what should our spending and tax policies be to support making america competitive? how do we make the tax system fairer and more incentivized for not just the rich but for every american and what areas do we invest in? it's unclear to me if the 3.5 trillion. i'm pr
some fiscal cliffs to come and they are talking taxes. we are back with our panel brit hume, bill bennett, harold ford jr. harold, you know this from being there in the house. usually it takes a cliff of some kind or a threat of not going home to get things done. it seems like that's where we are headed. without question. you know, as it relates to this debt ceiling it, always amazed me this is money that we have already spent as a country. we need a different process around how the debt...
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5.0
Nov 1, 2021
11/21
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CSPAN
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we face a big fiscal cliff on december 3. that is when we could see the country default on the national debt, although treasury has said they think they could use extraneous measures to pay the nation's bills perhaps as late as february. there may be a bit of wheel room, but we get into the holidays, people do not want to mess around too much with those issues. also, congress passed another short-term bill to pay for transportation. we run the risk again of 3700 department of transportation workers being furloughed if congress does not act. the infrastructure package that biden has negotiated would cover funding for transportation. if that passes, we should be in good shape, but there is a number of issues that congress is juggling. this next month or so will be crucial to see if they come through. host: howard, indiana, democrat. caller: good morning. this texas case really concerns me a great deal, because it is hard to believe the supreme court would let an unconstitutional piece of state legislation go through like that s
we face a big fiscal cliff on december 3. that is when we could see the country default on the national debt, although treasury has said they think they could use extraneous measures to pay the nation's bills perhaps as late as february. there may be a bit of wheel room, but we get into the holidays, people do not want to mess around too much with those issues. also, congress passed another short-term bill to pay for transportation. we run the risk again of 3700 department of transportation...
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Oct 21, 2021
10/21
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cliff is coming. so i think consumer-related pressures particularly at the low end are going to start to build. you will start to see a lot more pressures in the margins so up and down the p & l and wage pressures and supply chain pressures and pressures on materials costs and tax rates will go up next year you certainly have a biden administration that seems to be a lot less business friendly we think there will be more dispersion and maybe the market grinds higher here, but maybe a good environment for stock pickers. >> it's interesting. i have your newest letter right in front of me it's dated from yesterday and you list a lot of the risks that you just laid out for all of our viewers, but you do counter those with a number of positives. you've got still the cheap cost of capital we still have to fully re-open, the consumer is very strong and companies have pricing power and there's still a lot of cheap businesses out there my question to you is do all of those positives carry enough weight to outw
cliff is coming. so i think consumer-related pressures particularly at the low end are going to start to build. you will start to see a lot more pressures in the margins so up and down the p & l and wage pressures and supply chain pressures and pressures on materials costs and tax rates will go up next year you certainly have a biden administration that seems to be a lot less business friendly we think there will be more dispersion and maybe the market grinds higher here, but maybe a good...
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Mar 20, 2021
03/21
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FBC
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cliff. for the purpose of consumption by definition is inflationary. gerry: one final question and briefly you've written a lot about this in the past but even if there is and consumer inflation wright brothers been a tremendous rise in stock prices obviously except for very recently housing prices in the last year gone up a lot. the fed misses the great housing double of 2006 to 2008. is there a risk they are missing something this time in this tremendous run-up in asset prices? >> if they are missing if they really do need -- the nasdaq is a pure reflection of rates rising. we see an appreciable increase in interest rates and you see it come off of your longest duration assets and you reference housing. we are seeing home prices rise at a faster pace than what we saw in to the run-up to the housing bubble bursting so i certainly hope this runaway pricing is incorporated into that model. gerry: danielle dimartino booth thank you for joining us. that was great, thank you very much indeed for
cliff. for the purpose of consumption by definition is inflationary. gerry: one final question and briefly you've written a lot about this in the past but even if there is and consumer inflation wright brothers been a tremendous rise in stock prices obviously except for very recently housing prices in the last year gone up a lot. the fed misses the great housing double of 2006 to 2008. is there a risk they are missing something this time in this tremendous run-up in asset prices? >> if...
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Oct 7, 2021
10/21
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. >>> congress is tapping the brakes from the company careening off a fiscal cliff they are raising the debt ceiling until december, dodging a potential catastrophe. wall street cheered the news, it closed with the dow up about 100 points and futures are pointing to more green at the open. nbc news' chris pollone is on the hill with the latest this deal would buy us at least a few months >> good morning. this there there could be a vote if democrats are able to hammer out the final details of this debt limit deal. shortly after midnight, the senate majority leader chuck schumer said, we're making good progress we're not there in talking about a potential deal minority leader mitch mcconnell promises to let them pass a debt limit increase with a simple majority vote. but it would have to raise it by a specific amount of money, which would only last into december they met with several business leaders to discuss the potential of the u.s. defaulting the on its debt the treasury secretary has said, if that happens, it would be a catastrophe. >> let me be clear, raising the debt limit is pay
. >>> congress is tapping the brakes from the company careening off a fiscal cliff they are raising the debt ceiling until december, dodging a potential catastrophe. wall street cheered the news, it closed with the dow up about 100 points and futures are pointing to more green at the open. nbc news' chris pollone is on the hill with the latest this deal would buy us at least a few months >> good morning. this there there could be a vote if democrats are able to hammer out the...
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Oct 5, 2021
10/21
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a lot of districts are really concerned about hitting the fiscal cliff. if they invest in staffing and things that can't be persistent in the future, how will we be able to continue to give students and families the level of support that they need. so one thing to do is just to get started working right now on laying the groundwork for some of that long-term funding improvement. >> can you repeat when that deadline is? does that money really just go away? what's being done now? >> there are different pots of money. they have different deadline. some last year. some are coming up. the latest deadlines are in 2024. and i spoke to heather before and she says school districts will usually find a way to spend that money, but that's why it gets the bigger concern, is it being spent effectively. you're right, raj. if they don't spend it, it can go back to the feds. >> heather, if you had a magic wand what would you suggest to the school districts to spend the money sitting on the table now? >> there are a couple of things. one is data. we need to be monitoring s
a lot of districts are really concerned about hitting the fiscal cliff. if they invest in staffing and things that can't be persistent in the future, how will we be able to continue to give students and families the level of support that they need. so one thing to do is just to get started working right now on laying the groundwork for some of that long-term funding improvement. >> can you repeat when that deadline is? does that money really just go away? what's being done now? >>...
SFGTV: San Francisco Government Television
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6.0
Nov 19, 2021
11/21
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SFGTV
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so can you talk a little bit about our fiscal cliff reserve. i know that over the last year, we got a significant portion of dollars that were utilized to help balance the budget with one-time funding from the federal government. can you talk about that and how it impactsses the overall budget that the mayor put forward that we ultimately approved this last july-early august. >> sure. so, as you all are really well aware, the beginning of this calendar year, we were facing over, you know, $630 million budget shortfall and then, as the time of our march update, we had new information that we would be receiving over $600 million of federal stimulus and so we were able to utilize that large one-time source to plug the project shortfall that we otherwise would have been experiencing due to lack of -- and loss of local revenue and growing expenditures. and that federal relief has been assumed in the budget in both years of the budget we just recently adopted. >> so what i hear from that is that we utilize that money and now we have this $239.9 milli
so can you talk a little bit about our fiscal cliff reserve. i know that over the last year, we got a significant portion of dollars that were utilized to help balance the budget with one-time funding from the federal government. can you talk about that and how it impactsses the overall budget that the mayor put forward that we ultimately approved this last july-early august. >> sure. so, as you all are really well aware, the beginning of this calendar year, we were facing over, you know,...
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Dec 9, 2021
12/21
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. >> i do wonder, david, there's more and more discussion of the so-called fiscal cliff at the household level. whether it's about rising credit card balances or all that excess cash beginning to burn off as a result of inflation in part, holiday retail sales were good, but, you know, not a barnburner compared to a two-year stack do you worry about household right now? >> well, as the former fed governor stanley fischer used to say, there are always risks. they're just different riskses so there was a risk about the omicron and there was a delta variant, questions about job creation, questions about the fed policy, inflation, sort of householded fiscal cliff as you reference it there are always these issues but fundamentally business is strong and on the idea of job gains, there's plenty of -- the unemployment rate super low, wage inflation has been an issue that i would focus on more than, quote, unquote, household fiscal cliff. wage inflation creates pressure for some companies in the margin front, certainly some more than others, so we're leery of companies with a high percentage of t
. >> i do wonder, david, there's more and more discussion of the so-called fiscal cliff at the household level. whether it's about rising credit card balances or all that excess cash beginning to burn off as a result of inflation in part, holiday retail sales were good, but, you know, not a barnburner compared to a two-year stack do you worry about household right now? >> well, as the former fed governor stanley fischer used to say, there are always risks. they're just different...
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5.0
Dec 1, 2021
12/21
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KRON
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cliff. >> going forward. but state lawmakers tuesday told education leaders funding should not be an issue this upcoming year. the state legislative analyst's office projects. a budget surplus that will contribute to 20 billion dollars. total available for education spending in the upcoming state budget. how exactly the money will be spent is to be debated but addressing staffing shortages and boosting teacher pay were brought up in the student engagement challenge. i want to. and while lawmakers and school officials discussed possible ways to get kids back in the classroom. the state's vaccine and mask mandates for california. students were mostly left out of the conversation which upset a group of parents inside the hearing room. shame on you. >> to tell you to stop firing staff, stop it. stop. these men, you. trump. it. >> a clear picture of how the legislature will move forward with addressing the absence in enrollment issues will come in january in sacramento. ashley zavala kron 4 news. >> pfizer is expe
cliff. >> going forward. but state lawmakers tuesday told education leaders funding should not be an issue this upcoming year. the state legislative analyst's office projects. a budget surplus that will contribute to 20 billion dollars. total available for education spending in the upcoming state budget. how exactly the money will be spent is to be debated but addressing staffing shortages and boosting teacher pay were brought up in the student engagement challenge. i want to. and while...
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Dec 16, 2021
12/21
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or are they just creating a fiscal cliff, are they creating poverty track for the people of america, where if they get these programs, in a year they no longer have them? to me, it sounds like they have two choices -- that they can do, either pulling the rug out from underneath the american public, or pulling the wool over the eyes of the american public. one or the other, we are going to have to know something. people try to refer to this bill as the build back better bill, but over in the house we referred to a couple other b's. this bill, as i said, bankrupts the economy. it is the largest spending bill in our history, the largest tax increase in the history of the united states, and it will add $3 trillion to the deficit. clearly bankrupting the economy. the second largest provision in the legislation is the tax cuts for the wealthiest of millionaires, the state and local tax deduction. it cost over $280 billion, that is their second largest provision. you make $20 million and you get taxpayer paid family leave. if you make a half million dollars, you get thousands of dollars in
or are they just creating a fiscal cliff, are they creating poverty track for the people of america, where if they get these programs, in a year they no longer have them? to me, it sounds like they have two choices -- that they can do, either pulling the rug out from underneath the american public, or pulling the wool over the eyes of the american public. one or the other, we are going to have to know something. people try to refer to this bill as the build back better bill, but over in the...
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26
Dec 22, 2021
12/21
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cliff that would be set up without release >> the longer it takes to get this bill signed, the impact on midterms in 2022 >> when i talk to democrats here, they think this is crucial and they know there on the defensive. they feel it would be a foregone conclusion that is a driving force to see if they can salvage something. >> ed, thank you for joining us today. >>> coming up, looking for a return to normal in real estate. the broad implications covid is having on the sector and what to expect in the new year >>> european gas prices continue to hit new highs the pipeline that brings russian gas to germany reduces the flow to russia. temperatures drop across europe further escalating the region's energy prices. credit unions are looking for approval to hold assets like bitcoin after they said they could provide services with a third-party company. >> and under armour and steph curry curry teaming up creating 2,000 nfts of the snaeker he was wearing when he made it. back in a moment d advanced healing ointment. restore healthy skin, with no sticky feeling. gold bond. champion your skin
cliff that would be set up without release >> the longer it takes to get this bill signed, the impact on midterms in 2022 >> when i talk to democrats here, they think this is crucial and they know there on the defensive. they feel it would be a foregone conclusion that is a driving force to see if they can salvage something. >> ed, thank you for joining us today. >>> coming up, looking for a return to normal in real estate. the broad implications covid is having on...
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1.0
Dec 1, 2021
12/21
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KRON
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cliff going forward. >> here in the bay area school district officials in cupertino and hayward and voted to close a number of schools due to declining enrollment of california. lawmakers say funding should not be an issue next school year. officials say projecting a budget surplus that make 20 billion dollars available for education spending in the upcoming state budget. >> at the white house. president biden signed 4 bills into law benefit the military families and veterans. one law focuses on college education for surviving spouses and children of veterans by making them eligible for in-state tuition, where ever they choose to go to school. the president says these are important pieces of legislation to help our war heroes. >> i have one truly sacred obligation. my view and that is prepare those we sent into harm's way care for the families when they're gone and care for them and their families. but they're all. that's a that's a lifetime commitment. lifetime commitment to nation owes to every one of our veterans. >> other laws include a study of race in f it ethnic disparities i
cliff going forward. >> here in the bay area school district officials in cupertino and hayward and voted to close a number of schools due to declining enrollment of california. lawmakers say funding should not be an issue next school year. officials say projecting a budget surplus that make 20 billion dollars available for education spending in the upcoming state budget. >> at the white house. president biden signed 4 bills into law benefit the military families and veterans. one...
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cliff by the coronavirus pandemic. the protesters are demanding that instead of punishing the poor the city should tax its billionaires. march can continue to live their lives now we have to queue up in endless moans for a meal while not 7 the coming year. approaches doesn't make it as fine as the b.k. family's house it will be prepared to pay higher taxes he tries to play. his pont hate me how are you doing he's become a mentor to people like james his film in turn has just finished college we're growing and came in a 2020 excited for me as i'm looking at my job search challenge it's it's challenging this is what i try to also say to myself. every day you know i think this is a moment in time yeah i mean that's that's that's it i want to do something that passion about that i'm excited about. that that there. was at that precise feet the everyday life of an influence a doesn't stop because of the current affairs i was. in southampton shopping is allowed again with the mosque. was. this bastion of the ultra rich design
cliff by the coronavirus pandemic. the protesters are demanding that instead of punishing the poor the city should tax its billionaires. march can continue to live their lives now we have to queue up in endless moans for a meal while not 7 the coming year. approaches doesn't make it as fine as the b.k. family's house it will be prepared to pay higher taxes he tries to play. his pont hate me how are you doing he's become a mentor to people like james his film in turn has just finished college...
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17
Sep 22, 2021
09/21
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CNBC
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eye 17
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there is noise and there's damage >>> it is not just the looming fiscal cliff and china impacting the markets, today, the second day of the fed meeting with more clues to your tapered time line. jp morgan ceo sayings that not what matters >> indicating give or take a month or two, they'll tell the world they are going to start tapering i'm not sure exactly the timing there. that will all be fine if we have decent growth. that is far more important than anything if we keep on growing that is the anecdote for all ills >> you have heard the date doesn't matter about a million times on this program. let's talk about it all. lee, you are probably one of those who have said it with all due respect to jamie dimon, whether they start to pull back in december, january, february, does that matter to you? >> as long as they are going to do it. if they change their mind and keep it going another year, that is a different story >> all due respect to jamie, it doesn't really matter. if it causes a reversal, then that would be pretty big news. does the tapering start in january or february or novemb
there is noise and there's damage >>> it is not just the looming fiscal cliff and china impacting the markets, today, the second day of the fed meeting with more clues to your tapered time line. jp morgan ceo sayings that not what matters >> indicating give or take a month or two, they'll tell the world they are going to start tapering i'm not sure exactly the timing there. that will all be fine if we have decent growth. that is far more important than anything if we keep on...
SFGTV: San Francisco Government Television
7
7.0
Nov 18, 2021
11/21
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SFGTV
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eye 7
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so can you talk a little bit about our fiscal cliff reserve. i know that over the last year, we got a significant portion of dollars that were utilized to help balance the budget with one-time funding from the federal government. can you talk about that and how it impactsses the overall budget that the mayor put forward that we ultimately approved this last july-early august. >> sure. so, as you all are really well aware, the beginning of this calendar year, we were facing over, you know, $630 million budget shortfall and then, as the time of our march update, we had new information that we would be receiving over $600 million of federal stimulus and so we were able to utilize that large one-time source to plug the project shortfall that we otherwise would have been experiencing due to lack of -- and loss of local revenue and growing expenditures. and that federal relief has been assumed in the budget in both years of the budget we just recently adopted. >> so what i hear from that is that we utilize that money and now we have this $239.9 milli
so can you talk a little bit about our fiscal cliff reserve. i know that over the last year, we got a significant portion of dollars that were utilized to help balance the budget with one-time funding from the federal government. can you talk about that and how it impactsses the overall budget that the mayor put forward that we ultimately approved this last july-early august. >> sure. so, as you all are really well aware, the beginning of this calendar year, we were facing over, you know,...
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cliff colorado passed $1000000000.00 in state marijuana revenue in 2911 and take a look at just how well top marijuana selling states are doing. raking in the cash . but while state governments are using the ganja to stay afloat the business isn't without heavy regulation scandal and corruption turns out giving local elected officials the power to decide who gets access to the multimillion dollar marijuana business created its sea of bribery and illegal activity led by the gatekeepers themselves one of those beekeepers was correia a rising democratic party star and former mayor of fall river massachusetts in 2019 just a few days shy of his own reelection race but all agents hank of korea and his own he was charged with attempting to extort cannabis companies of $600000.00 in exchange for the highly coveted and lucrative weed selling licenses correll along with staffers and friends except that a variety of bribes including cash more than a dozen pounds of marijuana and a batman rolex watch worth up to $12000.00. almost all states require approval of local officials before marijuana l
cliff colorado passed $1000000000.00 in state marijuana revenue in 2911 and take a look at just how well top marijuana selling states are doing. raking in the cash . but while state governments are using the ganja to stay afloat the business isn't without heavy regulation scandal and corruption turns out giving local elected officials the power to decide who gets access to the multimillion dollar marijuana business created its sea of bribery and illegal activity led by the gatekeepers...
SFGTV: San Francisco Government Television
2
2.0
Nov 17, 2021
11/21
by
SFGTV
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eye 2
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so can you talk a little bit about our fiscal cliff reserve. i know that over the last year, we got a significant portion of dollars that were utilized to help balance the budget with one-time funding from the federal government. can you talk about that and how it impactsses the overall budget that the mayor put forward that we ultimately approved this last july-early august. >> sure. so, as you all are really well aware, the beginning of this calendar year, we were facing over, you know, $630 million budget shortfall and then, as the time of our march update, we had new information that we would be receiving over $600 million of federal stimulus and so we were able to utilize that large one-time source to plug the project shortfall that we otherwise would have been experiencing due to lack of -- and loss of local revenue and growing expenditures. and that federal relief has been assumed in the budget in both years of the budget we just recently adopted. >> so what i hear from that is that we utilize that money and now we have this $239.9 milli
so can you talk a little bit about our fiscal cliff reserve. i know that over the last year, we got a significant portion of dollars that were utilized to help balance the budget with one-time funding from the federal government. can you talk about that and how it impactsses the overall budget that the mayor put forward that we ultimately approved this last july-early august. >> sure. so, as you all are really well aware, the beginning of this calendar year, we were facing over, you know,...
10
10.0
Sep 30, 2021
09/21
by
ALJAZ
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eye 10
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cliff. it could run out of money to pay off its debt obligations, and that hasn't never before happened. and janet yellow in the us treasury secretary, so that would be catastrophic, immediately send the u. s. economy into recession with reverberations across global markets. now historically, the both parties have come together to suspend or increase the debt ceiling, but this time, senate republican say they will play no part. they're citing their opposition to the nation growing deficit. so where that leads democrats is they're trying to scramble to get another legislative vehicle to raise a debt, stealing without republican support. that is possible, but the past there is narrower and more treacher isn't any parliamentary error could result in an accidental default. come october with a lot going on. what about the infrastructure bill? when will that be voted on? that's right, this is a critical week for the bite administration on capitol hill and that infrastructure bill is one of 2 parts
cliff. it could run out of money to pay off its debt obligations, and that hasn't never before happened. and janet yellow in the us treasury secretary, so that would be catastrophic, immediately send the u. s. economy into recession with reverberations across global markets. now historically, the both parties have come together to suspend or increase the debt ceiling, but this time, senate republican say they will play no part. they're citing their opposition to the nation growing deficit. so...